Hon Hai aims to invest $342 million in AI, industrial internet

HONG KONG (Reuters) - Foxconn, one of Apple’s main suppliers, formally known as Hon Hai Precision Industry Co Ltd said on Friday it aims to invest T$10 billion ($342 million) in artificial intelligence (AI) and related spheres of industrial internet.

“Our investment for R&D and technology investment absolutely won’t be weak. We hope in the next few years to invest T$10 billion in the AI application and related spheres of the industrial internet,” executive Vice President Fang-ming Lu said at a press conference.

“We have an AI team but it’s still not enough. We need more and more talent,” Lu added.